It’s the last trading day for June fat cattle futures, as August was at a $5.25 discount from the Thursday settle. Live cattle also added to the rally on Thursday with 12 to 80 cent gains of as much as 0.44%. The feeder cattle market led the way on Thursday with 0.56% to 0.88% front month gains. August feeders were up by $2.12, and got to within $2.50 of their LoC high. USDA again had few cash trades to report for Thursday, but showed limited $182 sales in NE. Thursday’s FCE auction saw $178 bids vs $180 asks for the 818 head listed. The CME Feeder Cattle Index was another $4.96 higher to $230.97 for 6/28.
USDA reported the weekly beef export business at 12k MT for the week that ended 6/22. That was down from 13.3k MT last week and was 3k MT lighter than the rolling 5-week average. USDA had 15k MT of shipments for a full year total of 397k MT through 6/22.
Wholesale Boxed Beef prices bounced back some on Thursday with PM quotes 15c higher in Choice and 50c higher in Select. USDA had FI cattle slaughter at 502k head for the week through Thursday. That compares to 503k head last week and matches the same week last year.
Jun 23 Cattle closed at $179.750, up $0.125,
Aug 23 Cattle closed at $174.500, up $0.625,
Oct 23 Cattle closed at $177.675, up $0.650,
Aug 23 Feeder Cattle closed at $242.375, up $2.125
Sep 23 Feeder Cattle closed at $245.800, up $2.075
Oct 23 Feeder Cattle closed at $247.825, up $1.850
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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